Japanese delegation praises Irish success in attracting foreign investment

IRELAND’S low corporate tax rate, hi-tech twin-track approach is the best combination of tactics to continue to attract foreign direct investment into the Irish economy, according to the head of Japan’s External Trade Organisation (JETRO) Hiroshi Tsukamoto.

Speaking in Cork yesterday, at an event to mark the 50th anniversary of the establishment of diplomatic relations between Ireland and Japan, Mr Tsukamoto stressed that endeavouring to attract hi-tech rather than lo-tech companies is the best approach that can be utilised by both Ireland and Japan in competing for precious FDI cash against competitors like India and China.

“The most important thing to foreign companies is the tax rate, the corporate tax rate. The Irish government has been able to reduce tax, we cannot do that. We are around 30%, you are very cheap (12.5%),” he said.